DB Chief Executive Rüdiger Grube resigns, Richard Lutz to serve as interim

Published: Wednesday, February 8, 2017

Deutsche Bahn (DB) chief executive Rüdiger Grube has resigned after almost eight years at the helm.

His request was unanimously accepted by DB’s supervisory board, and work is underway to terminate his contract, with terms to be arranged by Mr Grube and DB’s personnel committee.

German media reports suggested his resignation came after the board failed to extend his contract three years until 2020, offering him a two-year extension instead.

Mr Grube began his career in 1989 at aerospace manufacturer Messerschmitt-Bolkow-Blohm, before moving on to DaimlerBenz and Daimler Chrysler.

In 2007 he was appointed chairman of Airbus, then known as the European Aeronautic and Defence Space Company, before signing a five-year contract to become DB chief executive in 2009.

Alongside his DB role, Mr Grube is the vice president of Hyundai Motor Company and holds directorships with Mitsubishi, McClaren and Hyundai and maintains a non-executive directorship with Airbus.

DB chief financial officer Richard Lutz will serve as an interim chief executive until a successor is appointed.